August 1, 2018 / 9:42 AM / 2 months ago

Iraq's oil exports from southern ports rise to 3.54 million bpd in July

BAGHDAD (Reuters) - Iraq exported 3.543 million barrels per day (bpd) of crude oil from its southern ports in July, slightly above the June average, the oil ministry said on Wednesday.

Iraq exported 3.521 million bpd of crude oil in June.

All the volumes shipped in July came from the southern fields, the ministry said in a statement. There were no exports in July from the Kirkuk fields, located in northern Iraq but under the control of Baghdad.

The average sale price in July was $69.163 per barrel, generating around $7.6 billion in revenue, the statement said.

July’s higher shipments came amid protests sweeping the southern region over poor public services and widespread corruption. Iraq’s oil officials said the unrest had not impacted crude production from the southern fields.

The bulk of Iraq’s oil is exported via the southern terminals, which account for more than 95 percent of the OPEC producer’s state revenues.

Reporting by Ahmed Rasheed; editing by Jason Neely and Louise Heavens

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